Thu, May 21, 7:16 AM
- Sales in Best Buy's (NYSE:BBY) international segment fell to $668M in Q1.
- Domestic segment revenue +1.4% to $7.89B
- Domestic comparable-store sales were up 0.6% with a new installment billing program contributing130 bps of growth.
- Domestic gross profit rate +120 bps to 22.7%.
- International gross profit rate -220 bps to 23.8%.
- Consolidated GAAP operating income rate -140 bps to 1.0%.
- Previously: Best Buy beats by $0.08, beats on revenue
- BBY +9.5% premarket.
Thu, May 21, 7:02 AM
Wed, May 20, 5:30 PM
Thu, May 14, 11:36 AM
- Wedbush Securities warns on an earnings miss for Best Buy (BBY -2.8%) next week when the company reports Q1 results.
- The investment firm is at BBY revenue of $8.24B and EPS of $0.26 vs. consensus of $8.49B and $0.29.
- Though consumer spending trends don't bode well for a strong Best Buy U.S. comp, cost-cutting measures at the company have been on track in recent quarters.
- BBY -9.72% YTD.
Fri, Apr. 24, 7:50 AM
- JPMorgan downgrades Best Buy (NYSE:BBY) to a Neutral rating after having the retailer previously slotted at Overweight.
- Sales at Best Buy are running below the expectations built into share price, reasons JP.
- The investment firm cut its price target on the stock to $40 from $45.
- BBY -1.88% premarket to $35.45.
Mon, Apr. 13, 4:16 PM
Sun, Mar. 29, 4:18 AM
- Best Buy (NYSE:BBY) plans to close some stores and consolidate its operations in Canada, in a move that will hurt its earnings by $0.10-$0.20 this year.
- Costing about $200M-$280M in restructuring charges, Best Buy said it will close 66 of its Future Shop stores in Canada and convert 65 of them into Best Buy outlets.
- The retailer also announced plans to spend $160M to improve its Canadian online operations, increase staffing at its remaining stores, and launch a range of home appliances.
Tue, Mar. 17, 11:24 AM
- Best Buy (BBY -0.5%) saw a large volume spike today off of a rumor on a Carl Icahn stake in the company.
- Shares brought themselves into positive territory before settling back.
- Though the reports of Icahn interest in the retailer are unconfirmed, the buzz was enough to take Best Buy to a 52-week high.
- Some retail analysts have noted the bankruptcy of RadioShack and focus by Conn's on furniture and mattresses could give Best Buy some incremental traffic this quarter.
Wed, Mar. 4, 11:26 AM
- Target (TGT +0.1%) trades higher as investors digest the information the company unveiled at its investor meeting late yesterday.
- Though the headline items were the thousands of job cuts announced and FY16 EPS guidance, it's Target's shift in philosophy which may emerge as the biggest pullaway for investors.
- "We recognize that we are talking about a significant cultural change, but it's driven by what the consumers want and expect from Target," said CEO Brian Cornell at the event.
- Just 7 weeks after announcing a full exit from Canada, Target now calls digital its top priority in the U.S.
- Janney Capital Markets thinks the +40% growth target for Target's digital business is a reach.
- Piper Jaffray boosted its price target on TGT to $86.
- Morgan Stanley sticks with a Positive stance on the company.
- Some analysts think Target's digital scale is formidable enough to put some pricing pressure on Best Buy (NYSE:BBY), Amazon (NASDAQ:AMZN), Staples (NASDAQ:SPLS), and Wal-Mart (NYSE:WMT).
Tue, Mar. 3, 7:34 AM
- Best Buy (NYSE:BBY) reports revenue in its domestic segment increased 3.2% to $12.697B during Q4.
- Comps were up over 2% with demand for TVs a positive factor.
- International segment sales -12.4% to $1.512B.
- Sales of tablets and revenue from services were lower during the quarter.
- Domestic online revenue +9.7% to $1.72B - a deceleration from previous quarters.
- Domestic gross profit rate +120 bps to 21.2%.
- International gross profit rate flat at 21.7%.
- Operating income rate +250 bps to 5.7%.
- Previously: Best Buy set capital allocation plans
- Previously: Best Buy beats by $0.13, misses on revenue
- BBY +4.22% premarket.
Tue, Mar. 3, 7:14 AM
Tue, Mar. 3, 7:10 AM
Tue, Mar. 3, 7:03 AM
Mon, Mar. 2, 5:30 PM
Thu, Feb. 26, 9:30 AM
Tue, Feb. 24, 7:15 AM| Tue, Feb. 24, 7:15 AM | Comment!
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